Comcast’s Big Bid Shouldn’t Distract From Regulatory Risks

From AT&T and Time Warner to the hot pursuit of 21st Century Fox and Sky, media mergers are in full swing. Why now? WSJ's Amol Sharma answers all your questions about the forces driving media deals. Photo: Getty Images

By

Elizabeth Winkler

Updated June 14, 2018 9:34 a.m. ET

Eager to ride the Justice Department’s loss to its own merger victory, Comcast surprised no one with a fast, aggressive bid for the assets that 21st Century Fox has agreed to sell to Walt Disney. At $65 billion, it is doozy of a bid, aimed not only at wooing the Murdochs away from Disney but also at distracting from the regulatory risks that would come with a Comcast deal.

Fox’s challenge is to not let that flashy number cloud its judgment. With the stock trading at records, that will take some real restraint.